Wayne Ting

is a failure of the company because we need to give him real accurate data so that he can make the right decision. If he thinks he is printing money when the opposite is true, then we have not set him up for success. So I spent a lot of that first couple of months building out Data.Line, which is an internal tool to give us accurate data across hundreds of operational metrics for every region.

is a failure of the company because we need to give him real accurate data so that he can make the right decision. If he thinks he is printing money when the opposite is true, then we have not set him up for success. So I spent a lot of that first couple of months building out Data.Line, which is an internal tool to give us accurate data across hundreds of operational metrics for every region.

And we can pull up to the global level down to the city level.

And we can pull up to the global level down to the city level.

And we can pull up to the global level down to the city level.

So I think like any business, you care about demand. So like what's the trips per vehicle per day? What was your revenue per vehicle per day? How many riders do you have? What was the retention of that rider? Then you care about your bottom line metrics.

So I think like any business, you care about demand. So like what's the trips per vehicle per day? What was your revenue per vehicle per day? How many riders do you have? What was the retention of that rider? Then you care about your bottom line metrics.

So I think like any business, you care about demand. So like what's the trips per vehicle per day? What was your revenue per vehicle per day? How many riders do you have? What was the retention of that rider? Then you care about your bottom line metrics.

Ultimately, you want to be generating more revenue than your costs. And so we were looking at the economics also on a trip basis. So if I think about total revenue, it's the number of fleet, total fleet multiplied by revenue per fleet multiplied by trips per vehicle per day gets me to total trips multiplied by revenue per trip gets me to total revenue. And so what you had was a lot of short trips.

Ultimately, you want to be generating more revenue than your costs. And so we were looking at the economics also on a trip basis. So if I think about total revenue, it's the number of fleet, total fleet multiplied by revenue per fleet multiplied by trips per vehicle per day gets me to total trips multiplied by revenue per trip gets me to total revenue. And so what you had was a lot of short trips.

Ultimately, you want to be generating more revenue than your costs. And so we were looking at the economics also on a trip basis. So if I think about total revenue, it's the number of fleet, total fleet multiplied by revenue per fleet multiplied by trips per vehicle per day gets me to total trips multiplied by revenue per trip gets me to total revenue. And so what you had was a lot of short trips.

So low RPT, low revenue per trip, and that was insufficient to generate a profit. And that's not a good business. And then you want to make sure you have the right cost metrics. And the biggest cost metrics at the time was simply how long our scooters lasted. So we were very keenly focused on daily decay rate. Now we look at decay on an analyzed basis.

So low RPT, low revenue per trip, and that was insufficient to generate a profit. And that's not a good business. And then you want to make sure you have the right cost metrics. And the biggest cost metrics at the time was simply how long our scooters lasted. So we were very keenly focused on daily decay rate. Now we look at decay on an analyzed basis.

So low RPT, low revenue per trip, and that was insufficient to generate a profit. And that's not a good business. And then you want to make sure you have the right cost metrics. And the biggest cost metrics at the time was simply how long our scooters lasted. So we were very keenly focused on daily decay rate. Now we look at decay on an analyzed basis.

But at the time, we were focused on how many scooters did we lose today because we were losing so many scooters. What were you losing on a daily decay rate? 3% daily decay on a global basis.

But at the time, we were focused on how many scooters did we lose today because we were losing so many scooters. What were you losing on a daily decay rate? 3% daily decay on a global basis.

But at the time, we were focused on how many scooters did we lose today because we were losing so many scooters. What were you losing on a daily decay rate? 3% daily decay on a global basis.

I remember two thoughts. One thought was, did I make a terrible mistake? Because I don't think I fully understood how upside down the economics of the industry were. And the second was, I need to get out there to really understand what was happening. So I then spent the next three months traveling to warehouse after warehouse.

I remember two thoughts. One thought was, did I make a terrible mistake? Because I don't think I fully understood how upside down the economics of the industry were. And the second was, I need to get out there to really understand what was happening. So I then spent the next three months traveling to warehouse after warehouse.

I remember two thoughts. One thought was, did I make a terrible mistake? Because I don't think I fully understood how upside down the economics of the industry were. And the second was, I need to get out there to really understand what was happening. So I then spent the next three months traveling to warehouse after warehouse.